The Importance of an Effective Invoicing Process
For many, invoicing seems like a fairly straight forward process. You complete a service, then send out the bill with payment due within a specified time frame. Sounds simple enough right? If invoicing was such a simple process then there would never be such a thing as outstanding invoices or debt. Although the current invoicing process that you have in place is not necessarily the reason why you have outstanding accounts, by improving the process of your invoicing you can significantly reduce the amount of overdue accounts or repeat late payers through small changes. For simple ways of improving your invoicing process, check out these tips at Xero https://www.xero.com/au/small-business-guides/invoicing/invoice-payment-terms/ Alternatively contact DRA on 1300 799 511 to assist with the recovery on any outstanding account.